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SB0974 • 2026

Banks and Financial Institutions

AN ACT to amend Tennessee Code Annotated, Title 45, relative to financial institutions.

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Southerland, Garrett
Last action
2025-02-12
Official status
Passed on Second Consideration, refer to Senate Commerce and Labor Committee
Effective date
Not listed

Plain English Breakdown

The official source does not provide specific details on the consequences of late submission or how it will impact the commissioner's work and financial institutions.

Shortening Report Submission Time for Financial Institutions

This bill changes the deadline for submitting an annual report by Tennessee's financial institutions commissioner from 60 days to 45 days after the end of the calendar year.

What This Bill Does

  • Changes the deadline for submitting the annual report by the commissioner of financial institutions from 60 days to 45 days after the end of the calendar year.

Who It Names or Affects

  • The commissioner of financial institutions in Tennessee
  • Financial institutions regulated by Tennessee law

Terms To Know

Commissioner of Financial Institutions
A government official responsible for overseeing and regulating financial institutions within a state.

Limits and Unknowns

  • The bill does not specify what happens if the report is submitted late.
  • It is unclear how this change will affect the work of the commissioner or the financial institutions.

Bill History

  1. 2025-02-12 Tennessee General Assembly

    Passed on Second Consideration, refer to Senate Commerce and Labor Committee

  2. 2025-02-10 Tennessee General Assembly

    Introduced, Passed on First Consideration

  3. 2025-02-06 Tennessee General Assembly

    P2C, caption bill, held on desk - pending amdt.

  4. 2025-02-05 Tennessee General Assembly

    Filed for introduction

  5. 2025-02-05 Tennessee General Assembly

    Intro., P1C.

  6. 2025-02-04 Tennessee General Assembly

    Filed for introduction

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

Read the full stored bill text 
HOUSE BILL 820
By Garrett

SENATE BILL 974
By Southerland

SB0974
001214
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 45,
relative to financial institutions.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 45-1-119(a), is amended by deleting
"within sixty (60) days" and substituting "within forty-five (45) days".
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.